Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys New Holdings in Exelixis, Inc. (EXEL)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 76,124 shares of the biotechnology company’s stock, valued at approximately $1,638,000.
Several other hedge funds have also recently made changes to their positions in EXEL. James Investment Research Inc. acquired a new position in shares of Exelixis during the 2nd quarter valued at about $133,000. TLP Group LLC acquired a new position in shares of Exelixis during the 1st quarter valued at about $179,000. Washington Trust Bank acquired a new position in shares of Exelixis during the 2nd quarter valued at about $213,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Exelixis during the 1st quarter valued at about $215,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Exelixis by 83.4% during the 1st quarter. Meeder Asset Management Inc. now owns 9,887 shares of the biotechnology company’s stock valued at $218,000 after acquiring an additional 4,495 shares during the last quarter. 77.56% of the stock is currently owned by hedge funds and other institutional investors.
In other Exelixis news, CMO Gisela Schwab sold 22,500 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $21.20, for a total value of $477,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lance Willsey sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $21.40, for a total transaction of $1,070,000.00. Following the completion of the transaction, the director now directly owns 418,273 shares in the company, valued at approximately $8,951,042.20. The disclosure for this sale can be found here. Insiders sold 863,390 shares of company stock worth $17,914,917 in the last ninety days. 4.80% of the stock is currently owned by corporate insiders.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.12. Exelixis had a net margin of 48.17% and a return on equity of 65.68%. The company had revenue of $186.10 million for the quarter, compared to analysts’ expectations of $157.37 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. Exelixis’s revenue for the quarter was up 88.0% compared to the same quarter last year. analysts expect that Exelixis, Inc. will post 1.03 earnings per share for the current year.
Several brokerages have recently weighed in on EXEL. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, May 8th. ValuEngine raised shares of Exelixis from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 17th. Cann reissued a “buy” rating and set a $40.00 price target on shares of Exelixis in a research report on Thursday, May 17th. BidaskClub raised shares of Exelixis from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 16th. Finally, Stifel Nicolaus lowered their price target on shares of Exelixis from $29.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Exelixis has a consensus rating of “Buy” and a consensus target price of $32.67.
Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.
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